EX-12 3 p73030exv12.htm EX-12 exv12
 

PHELPS DODGE CORPORATION AND SUBSIDIARIES

Exhibit 12
COMPUTATION OF TOTAL DEBT TO TOTAL CAPITALIZATION
 (Unaudited; $ in millions)
                 
    September 30,     December 31,  
    2006     2005  
Short-term debt
   $ 63.0       14.3  
 
                
Current portion of long-term debt
     62.2       2.5  
 
                
Long-term debt
     796.4       677.7  
 
            
 
                
Total debt
     921.6       694.5  
 
                
Minority interests in consolidated subsidiaries
     1,427.3       915.9  
 
                
Shareholders’ equity
     6,483.9       5,601.6  
 
            
 
                
Total capitalization
   $ 8,832.8       7,212.0  
 
            
 
                
Ratio of total debt to total capitalization
     10.4 %     9.6 %